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16 February 2012 - 22:25

Advisor to the Leader of the Islamic Revolution on International Affairs Ali Akbar Velayati says the sanctions imposed against Iran’s oil sector by the West are of little workable value.

“More than being workable, the sanctions are sheer psychological warfare and propaganda,” Velayati said on Thursday.

Velayati added that since most of the Western countries are facing “bankruptcy”, they don’t have a choice regarding purchase of oil.

As demand for oil exceeds its supply, Iran’s oil will not remain without a customer nor will the crude of other countries, Velayati stressed.

On the New Year’s Eve, the United States imposed new sanctions against Iran aimed at preventing other countries from importing Iran’s oil and doing transactions with its central bank.

European Union foreign ministers also approved sanctions against Iran on January 23, including a ban on Iranian oil imports, a freeze on the assets of the country’s Central Bank within EU states and a ban on selling diamonds, gold, and other precious metals to Tehran.

The United States, Israel and some of their allies accuse Tehran of pursuing military objectives in its nuclear program and have used this pretext to push for four rounds of UN sanctions and a series of unilateral sanctions against the Islamic Republic.

Iran has refuted the allegations, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty and member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful use.
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News ID 181498